Bank of America Corporation (BAC) moving down – What’s in it for Long-term Investors?

Bank of America Corporation (BAC), a Financial Services Banks—Diversified business, saw its stock trade 32.83 shares, a pullback against to its 10-day trading volume of 47.75M. Bank of America Corporation (BAC) stock traded at $32.83, down -0.65 cents or -1.94% on the day. Based on this we can see some traders are either waiting on the sidelines to get involved or perhaps some are taking losses.

In a interview on Jan 24, 2020 from the World Economic Forum in Davos, Switzerland, Bank of America (BAC) CEO Brian Moynihan credited innovation and a “capitalist spirit” in the U.S. with powering the country’s longest economic expansion in history.

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“The U.S. economy just has a way of grinding through, because that innovation, the capital that’s there, the capitalist spirit … it works better than any economy in the world,” Moynihan told Yahoo Finance’s editor-in-chief, Andy Serwer, this week. “That’s one of the things we’re trying to get everybody to understand, is you can be capitalist and … and make progress for society. But don’t challenge capitalism.”

Total Revenue for Bank of America Corporation (BAC) is $87.65B, Gross Profit is $87.65B .

Bank of America Corporation (BAC) Key Technicals:

The average 10-day trading volume of Bank of America Corporation (BAC) is 47.75M compared to 44.95M over the last 3 months which indicates a surge in trading activity. Currently, Bank of America Corporation (BAC) has a 50-day moving average of $34.60 and a 200-day moving average of $31.23. These moving averages are popular technical details that investors use to analyze price trends of Bank of America Corporation (BAC).
Approximately 1.02% of the shares of the company are sold short from traders betting the stock might trade lower. The beta value on Bank of America Corporation (BAC) stock is 1.58, indicating its 1.86% to 1.44% more volatile than the overall marketplace.
Technically, BAC’s short term support levels are around $32.01, $31.27 and $30.56 on the downside. BACs short term resistance levels are $37.22, $35.70 and $35.24 on the upside.
Based on technical analysis, BAC has short term rating of Bearish (-0.44), Intermediate rating of Bearish (-0.25) and the long-term rating of Neutral (0.17) giving it an overall rating of Neutral (-0.17).
BAC is trading 25.26% off its 52 week low at $26.21 and -8.09% off its 52 week high of $35.72. Performance wise, BAC stock has recently shown investors -2.12% a pullback in a week, -6.79% a pullback in a month and 3.83% a surge in the past quarter.
More importantly, Bank of America Corporation (BAC) has shown a return of -6.79% since the first of the year.

Bank of America Corporation (BAC) Key Figures:

Bank of America Corporation (BAC) is a large-cap company with a market cap value of $290.091B. BAC insiders hold roughly 0.09% of the shares.
On Jan-07-20 UBS Downgrade BAC as Buy → Neutral at $34 → $36. On Jan-09-20 DA Davidson Initiated BAC as Neutral at $36 and on Jan-21-20 Atlantic Equities Downgrade BAC as Overweight → Neutral.
There are currently 8.99B shares in the float and 9.17B shares outstanding. There are 1.02% shares short in BACs float.
The industry rank for Bank of America Corporation (BAC) is 36 out of 255 ranking it at the Top 14% .

Bank of America Corporation (BAC) Fundamental Figures:

BAC last 2 years revenues have decreased from $91,247,000 to $91,244,000 showing a downtrend.
Wall Street expects Bank of America Corporation (BAC) to report an EPS next Qtr profit of 0.73 and a profit of 8.34% next year.
The growth rate on BAC this year is 10.91 compared to an industry 2.60. However, BACs next year’s growth rate is 7.87 compared to an industry 7.30.
The book value per share (mrq) is 26.31 and cash per share (mrq) is 81.22. Giving them a price/book (mrq) of 1.22 compared to an industry of 1.27 and BACs price/cash flow (mrfy) is 10.06 compared to an industry of 10.36.
BAC fundamental ratios shows an EPS growth vs. previous year 3.05 and EPS growth vs. previous quarter 0.73.

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